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Lexus is the luxury vehicle division of the Japanese automaker Toyota Motor Corporation. The Lexus brand is marketed in more than 90 countries and territories worldwide and is Japan's largest-selling make of premium cars. It has ranked among the 10 largest Japanese global brands in market value. Lexus is headquartered in Nagoya, Japan. Operational centers are located in Brussels, Belgium, and Plano, Texas, United States.
Lincoln Motor Company, or simply Lincoln, is the luxury vehicle division of American automobile manufacturer Ford Motor Company. Marketed among the top luxury vehicle brands in the United States, Lincoln is positioned closely against its General Motors counterpart Cadillac. However, beginning with the 2021 model year, they only offer SUV and crossover vehicles.
Pricing is the process whereby a business sets the price at which it will sell its products and services, and may be part of the business's marketing plan. In setting prices, the business will take into account the price at which it could acquire the goods, the manufacturing cost, the marketplace, competition, market condition, brand, and quality of product.
A luxury car is a car that provides above-average to high-end levels of comfort, features, and equipment. Often, more expensive materials and surface finishes are used, and buyers expect better build quality. The usually higher pricing and more upscale appearance are often associated with the users' higher social status compared to low- and mid-market segment cars.
The subscription business model is a business model in which a customer must pay a recurring price at regular intervals for access to a product or service. The model was pioneered by publishers of books and periodicals in the 17th century, and is now used by many businesses, websites and even pharmaceutical companies in partnership with governments.
Infiniti is the luxury vehicle division of the Japanese automaker Nissan, marketing having begun on November 8, 1989, in North America. The marketing network for Infiniti vehicles included dealers in over 50 countries in the 2010s. As of 2020, there were 25 markets served by new car dealers, primarily North America, China, Taiwan, and the Middle East.
GMC is a division of American automotive manufacturer General Motors (GM) for trucks and utility vehicles. GMC currently makes SUVs, pickup trucks, vans, and light-duty trucks. In the past, GMC also produced fire trucks, ambulances, heavy-duty trucks, military vehicles, motorhomes, transit buses, and medium duty trucks.
In the automotive industry, rebadging is a form of market segmentation used by automobile manufacturers around the world. To allow for product differentiation without designing or engineering a new model or brand, a manufacturer creates a distinct automobile by applying a new "badge" or trademark to an existing product line.
In economics, a luxury good is a good for which demand increases more than what is proportional as income rises, so that expenditures on the good become a more significant proportion of overall spending. Luxury goods are in contrast to necessity goods, where demand increases proportionally less than income. Luxury goods is often used synonymously with superior goods.
Accor S.A. is a French multinational hospitality company that owns, manages and franchises hotels, resorts and vacation properties. It is the largest hospitality company in Europe, and the sixth largest hospitality company worldwide.
Masstige is a marketing term meaning downward brand extension. The word is a portmanteau of the words mass and prestige and has been described as "prestige for the masses".
Vertu is a manufacturer and retailer of luxury handmade mobile phones, established in 1998 and formerly owned by Finnish mobile phone manufacturer Nokia. Previously located in the UK, ownership of the brand is now contested between two entities located in Hong Kong and France.
Designer clothing is clothing designed by a particular fashion designer or licensed by a person or brand. It is often luxury clothing proven to be high quality and haute couture for the general public, made by, or carrying the label of, a well-known designer. Licensing of designer names has been a common practice within the fashion industry since about the 1970s. Designer clothing comprises numerous types of apparel, including designer jeans that often cost several hundreds of dollars.
A compact executive car, also known as a compact luxury car, is a premium car larger than a premium compact and smaller than an executive car. Compact executive car is a UK term and a part of the D-segment in the European car classification.
Freemium, a portmanteau of the words "free" and "premium", is a pricing strategy by which a basic product or service is provided free of charge, but money is charged for additional features, services, or virtual (online) or physical (offline) goods that expand the functionality of the free version of the software. This business model has been used in the software industry since the 1980s. A subset of this model used by the video game industry is called free-to-play.
Loyalty marketing is a marketing strategy in which a company focuses on growing and retaining existing customers through incentives. Branding, product marketing, and loyalty marketing all form part of the customer proposition – the subjective assessment by the customer of whether to purchase a brand or not based on the integrated combination of the value they receive from each of these marketing disciplines.
Premium pricing is the practice of keeping the price of one of the products or service artificially high in order to encourage favorable perceptions among buyers, based solely on the price. Premium refers to a segment of a company's brands, products, or services that carry tangible or imaginary surplus value in the upper mid- to high price range. The practice is intended to exploit the tendency for buyers to assume that expensive items enjoy an exceptional reputation or represent exceptional quality and distinction. A premium pricing strategy involves setting the price of a product higher than similar products. This strategy is sometimes also called skim pricing because it is an attempt to “skim the cream” off the top of the market. It is used to maximize profit in areas where customers are happy to pay more, where there are no substitutes for the product, where there are barriers to entering the market or when the seller cannot save on costs by producing at a high volume.
The Luxury Institute is a premium goods and services research, training and consulting firm based in New York City, New York and Boca Raton, Florida. It has the largest global network of luxury experts. It has conducted more quantitative and qualitative research on affluent consumers than any other entity. Over the last 17 years, the firm has served over 1,100 luxury and premium goods and services brands. The Luxury Institute's reports, as well as CEO Milton Pedraza, have been cited in luxury industry articles by publications including Marketing Week, The Wall Street Journal, Women's Wear Daily, and the CEOWORLD magazine.
Genesis Motor, LLC, commonly referred to as Genesis, is the luxury vehicle brand of the South Korean vehicle manufacturer Hyundai Motor Company. Initially envisioned along with plans for Hyundai's new luxury Genesis sedan in 2004, Genesis was officially announced as an independent brand on 4 November 2015. Its first model, the Genesis G90, was released in 2017. Genesis models are designed in Rüsselsheim, Namyang, and Irvine; and produced in Ulsan.
Tata CLiQ is an Indian e-commerce company based in Mumbai, India. It is owned by Tata Unistore Limited of Tata Group. Tata CLiQ operates in categories such as Fashion, Footwear, and Accessories. Tata Group's E-commerce platform, Tata CLiQ, also launched a premium and luxury fashion and lifestyle destination, Tata CLiQ Luxury, and it houses a wide range of apparel and accessories for men and women by luxury and bridge-to-luxury brands.
References
- ↑ Kapferer, Jean-Noel (22 June 2016). "The Business Model Of Luxury Brands". Branding Strategy Insider. Retrieved 27 March 2024.
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